American Farmland Company, an internally managed REIT with farmland in California, Illinois and Florida, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The last farm-focused REIT was Farmland Partners (FPI), which went public in April 2014 and now trades 16% below its offer price.
The New York, NY-based company, which was founded in 2009 and booked $8 million in sales for the 12 months ended March 31, 2015, plans to list on the NYSE under the symbol AFCO. Deutsche Bank, Raymond James and FBR Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
